"mazda616" (mazda616)
11/29/2014 at 17:50 • Filed to: Vehicle values
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"mazda616" (mazda616)
11/29/2014 at 17:50 • Filed to: Vehicle values | 0
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That's what Edmunds and KBB said my car is worth as of today. That trade-in value, though. Yikes. And yes, damn it, I rated my car as "outstanding." It is six-years-old and only has one scuff on the bumper. And has never had any body work. The value of my first-gen 3 seems to have really plummeted since the 2014 3 was introduced.
Let's see what NADA has to say.
Yuck. I'm glad I'm not in any hurry to get rid of it. Just did my second "repair" ever to it last night. The glove box light went out. Two screws and a few trim clips later, and I had the glove box out and the bulb replaced. Ten minute job. I love how easy this car is to work on, even though it doesn't need it very often (thankfully).
Anyone else been pleasantly or unpleasantly surprised by their vehicle's worth?
I own dead car brands only
> mazda616
11/29/2014 at 18:29 |
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At least it isnt a saab. My last saab's resale was lololololololol. My current saab is probably the same but i dare not to look.
And not to be picky but not a fan of these red accent trims.
guiltymexican
> mazda616
11/29/2014 at 18:32 |
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I bought a 02 Nissan Sentra SE-R Spec V for $20k. I sold it in 09 I think for $1000 w/ 103k miles. Those cars did not age well. The paint literally flaked off, started burning oil at 78k miles. Front & rear bumper sag. Trunk locking mechanism broke and no AC. Interior was pretty much immaculate. I feel your pain. I had a choice to buy a 02 Civic Si & I didn't because it was slow & ugly. I regret it till this day. I took care of the car, too. Nissan had no quality control back then. The only cars I will buy brand new are Honda & Toyota. Even in beat up condition they still command top dollar. I like Mazda 3s, but I will take a Civic LX anytime of day. After 5 years one is sold for $5k & the other $9.5k. Sucks but it's the free market.
Logansteno: Bought a VW?
> mazda616
11/29/2014 at 18:44 |
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My mom's '08 Vue with 73,000 miles is only worth about $8,800 private party value.
Then there's my dad's '04 Silverado with 138,000 miles still holding it's value at about $9,000.
Oh, what a brand dying does to the product value. It'll probably be worth about tree-fiddy when we go to trade it in.
If only EssExTee could be so grossly incandescent
> mazda616
11/29/2014 at 19:05 |
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Jeeps hold value a little too well. KBB says our 1990 Wrangler with 170k is worth almost $4,000.
djmt1
> mazda616
11/29/2014 at 19:13 |
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I forgot Mazda included their name in the names of their cars. Makes searching for their cars real confusing on Autotrader.
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mazda616
> I own dead car brands only
11/29/2014 at 19:14 |
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Most people aren't. I like them, though. So, they stay.
AccidentalFinance & Hapless Jag Owner
> mazda616
11/29/2014 at 20:51 |
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A few generic used price thoughts to keep in mind - all mainstream sedans ($18k-$30k) will follow a fairly predictable base depreciation of $125-$250ish (ballpark) per month over the course of a 12 month period after years 2-3. During any given year, you'll see the impact of the industry's selling season reflected on that depreciation - values may hold or creep upwards in Feb-April, sometimes rise in June/July, then soften in the Fall, followed by a significant erosion in the Winter when overall traffic at the dealers fall. Additionally, there are a lot of other factors that you can expect to have an impact on your cars value throughout the year - new model year introductions in Aug/Sept is when all existing cars "age" an additional model year. Shifts in fuel prices can have a significant impact as well - when gas becomes cheap, efficient cars may soften in price as less economical cars become more affordable from an operating cost standpoint. Conversely, when gas prices rise quickly, folks run away from less efficient cars to get into something more affordable to run. The volume of used cars in the market will also have an impact on values - the more lease returns coming back to market, mean more cars for dealers to choose from - greater supply, steady demand = lower prices. The opposite is true in times of reduced lease/rental car returns. Additionally, the manufacturer's current model sales strategy will also impact your used cars value - all those great cash incentives on new cars may force used car prices down as the market has to differentiate new from used in terms of monthly payments. There are so many factors to consider that will impact used values - but it's all part of the art and science of the car business. Remember - that special grizzly bear of power and performance that you lovingly bathed nightly in water infused with unicorn tears and dried with baby seal pelts is ultimately a piece of metal that has to earn a certain return on the dealer's lot - that return is largely decided by the overall market conditions at the moment in which the car is bought at auction or taken in on trade.
There were a lot of folks that were blown away at how strong their cars had held value in 2011-2013 when used car returns to market (lease, rental, and trade ins were at a low point).
For the time being, the overall market has stabilized in large part - prices overall aren't too high or too low (specific models or manufacturers may have their own micro-economic factors). Of course, the older a car gets, the pace of depreciation lessens and values eventually level off.
Plan on steady base depreciation for the time being, keep your car as tidy and maintained as possible to mitigate the amount of reconditioning needed to make it the next driver's dream come true, and keep on enjoying it while you've got it.
Best of luck.
shop-teacher
> mazda616
11/29/2014 at 21:36 |
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Unfortunately, even those prices are fantasyland. We only got $5,750 in trade last week for my wife's mint '06 3, that was loaded and had only 52,000 miles on it.
I hustled my ass off to get that price. Several dealers offered me $4k.
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mazda616
> shop-teacher
11/30/2014 at 08:41 |
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Gross. Looks like I'll be hanging on to this car even longer than I thought!
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shop-teacher
> mazda616
11/30/2014 at 09:55 |
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It was tempting to just keep the little feller at that price.